Jumia Nigeria Plans Big for 2017 Black Friday

By Adedapo Adesanya Nigeria will accept and work with a production quota of 1.5 million barrels of crude oil per day in 2024 as the country aims to grow on the back of its oil resources, following a revision done by the Organisation of the Petroleum Exporting Countries and its allies, OPEC+. According to a statement issued by the Press and Public Relations unit of the Ministry of Petroleum Resources, Thursday’s meeting of the 23-man group addressed crucial aspects, including the completion of assessments by independent sources (IHS, Wood Mackenzie, and Rystad Energy) on the projected production levels for Angola,

By Aduragbemi Omiyale The online stock trading platform of one of the leading brokerage firms in Nigeria, Morgan Capital Securities Limited, i-Trade, has experienced a technical glitch. This technical issue has made it difficult for its clients to carry out transactions on the popular platform. Morgan Capital’s i-Trade platform is popular among retail investors in the Nigerian capital market, especially those trading equities on the floor of the Nigerian Exchange (NGX) Limited, because of its lower fees. The company has already assured its customers that it was working to restore services, providing an alternative to them. “This is to inform

By Adedapo Adesanya The Naira put up a weak performance against the United States Dollar across the various segments of the foreign exchange (FX) market on Thursday. November 30, 2023, the last trading session of the month. In the Nigerian Autonomous Foreign Exchange Market (NAFEM) window, which is the official market, the Nigerian currency lost 0.1 per cent or 85 Kobo against the greenback during the session to settle at N832.32/$1 compared with the preceding day’s value of N831.47/$1. A slight strain in the supply of forex into the spot market was partly responsible for the weakening of the local

By Adedapo Adesanya Instant messaging service owned by Facebook, WhatsApp, now has 2 billion users worldwide, adding over 500 million users from 1.5 billion recorded in 2018. According to WhatsApp, in a blog post, the milestone showed the importance of encrypting its users’ messages, a practice that is coming under increasing amounts of pressure from lawmakers around the world. Governments are arguing that being unable to read people’s messages makes it harder to discover when the messaging app is being used to facilitate terrorism, child exploitation, and other crimes. WhatsApp has continued to strongly defend its encryption technology, saying, “We

By Adedapo Adesanya The Lagos State government has reviewed its 2020 budget downwards to N920.5 billion from N1.17 trillion as a result of disruptions caused by the COVID-19 pandemic. This was disclosed by Mr Samuel Egube, the Commissioner for Economic Planning and Budget in the state. The reduction of the total budget size is by 21 percent from N1,168.562 billion to N920.469 billion. The commissioner pointed out that the negative effect of the fall in crude oil prices on statutory allocation expectations, the downward pressure on Internally Generated Revenue (IGR), devaluation of the naira, reduced public and private investment and

By Ahmed Rahma Leading consumer goods company, Procter & Gamble (P&G) has donated over 180,000 Pampers diapers to promote maternal and infant health in hard to reach communities in Nigeria. The diapers were donated to Tabitha Cumi Foundation (TCF) through the company’s Pampers Rigakafi III program to support the non-profit organisation’s initiative known as Help Mama Keep Baby, which hopes to reduce infant mortality and increase the immunisation rate in Nigeria. According to the Executive Director of TCF, Adetayo Erinle, “The Pampers Rigakafi III program will be implemented through our Help Mama Keep Baby project from October 2020 to March

By Dipo Olowookere A former Niger Delta militant leader, Government Ekpemupolo, famously known as Tompolo, has lost his father to death. Tompolo’s father, Chief Thomas Ekpemupolo, was attacked few months ago by the military during a raid to the former militant’s community in Delta State, with the aim to arrest him (Tompolo). During the raid, the elderly man sustained some injuries and was taken to the hospital for treatment. Tompolo’s spokesman, in a statement issued on Wednesday, disclosed that the 84-year-old father of the ex-militant leader died at a hospital in Warri, Delta state, as a result of injuries sustained

By Adedapo Adesanya The Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against President Muhammadu Buhari over his refusal to publish names of suspected looters of N6 trillion Niger Delta Development Commission (NDDC) funds between 2000 and 2019, as documented in the recent Forensic Audit Report on the agency. In the suit filed at the Federal High Court, Abuja, SERAP is seeking “an order of mandamus to direct and compel President Buhari to publish the names of those indicted in the alleged misappropriation of over N6trn in the running of the Niger Delta Development Commission (NDDC) between 2000

By Ahmed Rahma The National Identity Management Commission (NIMC) has announced the discontinuation of the old national identity card. The agency confirmed this new development in a post on Wednesday, advising citizens with the old number embedded in the first issued national ID card to visit any of its offices nationwide for another one. According to NIMC, the old number cannot be used to update the registration records of subscribers with telecommunications service providers as directed by the National Communications Commission (NCC). On December 15, 2020, the regulatory agency for the telco sector had directed that any subscriber that fails

By Nneka Okumazie What if Justinian the Great did not just build the then Church of Hagia Sophia [532–37CE] in Constantinople, but instead drove massive evangelistic drive – through the East and beyond? What if the move was to ensure that translations of the Scriptures were further made available in many other places, with teachings and apostles of the time, re-emphasising the word across? There may have been some difference in how some history went if aggressive evangelism was prioritised. The past can be a window into the future, looking at emerging trends and possible parallels. Though Christianity was used

By Adedapo Adesanya Despite the shocks that plagued the oil market last year, a semblance of good news has materialised for Nigeria and other oil-producing nations under the Organisation of the Petroleum Exporting Countries (OPEC) as the group sees a strong recovery in world oil demand in 2021. In a monthly report, the cartel said demand will rise by 5.95 million barrels per day this year equivalent to 6.6 per cent, a signal that is unchanged from last month despite worrying cases of coronavirus cases in high importing nations like India and Japan. According to the report, Business Post understands